HSBC
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A pair of borrowers have hit screens for euro benchmarks to be sold during Tuesday’s session, but another nipped in ahead of the rush to price on Monday. -
The UK’s Synthomer plans to raise €600m through a revolving credit facility and privately placed notes, as the unrated chemicals company looks to refinance existing bank debt early.
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The European Investment Bank threw itself into a new type of sterling deal with aplomb, making a splash with a £1bn floater referencing the Sonia benchmark, in what bankers believe may become the new standard for the market.
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The Loan Market Association has recruited a trio of loan market stalwarts to its board after its AGM this week. MUFG’s Mathias Noack has retained his place as chairman.
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HSBC has named Hemant Lodha as head of the financing solutions group, debt capital markets, Asia Pacific, with immediate effect, according to a memo seen by GlobalCapital Asia.
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With much of the great and good of the public sector markets busy at the Euromoney Global Borrowers and Bond Investors Forum in London (see page 6 for full coverage), deals were thin on the ground this week. But one Nordic agency was able to build its largest ever order book in dollars and, with conditions looking strong, both that currency and euros are likely to be packed next week, said bankers.
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A sterling floater from the European Investment Bank would not normally set tongues wagging across capital markets but the supranational’s upcoming deal is an exceptional case. The bond is a test case for what is expected by many to become the new market standard for the format, writes Lewis McLellan.
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The European Investment Bank has released initial price thoughts for a sterling benchmark floater referencing Sonia — a trade that dominated many conversations at this week's Euromoney Global Borrowers conference in London. The deal will be priced on Friday.
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Spanish electricity utility Iberdrola has been one of the leading corporate issuers of green bonds and, on Thursday, it took its total green issuance to more than €7bn with its latest offering.
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South Korea’s GS Caltex Corp had five times the demand for its $300m bond on Wednesday, allowing it to pull off an exceptional 30bp price tightening.
